Vinted is Europe’s largest C2C online marketplace dedicated to second-hand fashion. Our platform has more than 45 million registered members globally across 14 countries, and now has over 1.2 million members in the UK alone. In 2020, the Vinted platform observed an additional overall increase of 16-17% in listings across its European markets in the two periods of lockdown. Some of this increase is organic but some is also likely due to people spending more time indoors, taking the opportunity to declutter, and to make some cash during difficult times.
We believe this uptick in both the selling and buying of second-hand fashion is largely underpinned by a shift in mindset and behaviour around sustainable fashion. Consumers are proactively pushing for more ethical consumption around the world. The pandemic has shifted priorities and accelerated the already growing movement toward more conscious consumerism. With national lockdowns in place, people have also had more time to declutter their wardrobes and sell the items they no longer wear, so that these pieces can be given a second life. Our member research suggests that responsible action is important for Vinted users; just over half agree that it’s a “shame to throw away items that someone else might want.”
Aside from environmental benefit of keeping clothes from reaching landfills, reselling is also financially beneficial: by selling your unworn clothes, consumers free up space in their wardrobes and make some extra cash in return. We know that making some extra money is important for our members, and one of the main reasons people use the Vinted app and engage more with second hand fashion. However, responsible consumption is more important to Vinted users than other people in the UK. Buyers are also attracted to second-hand fashion, being able to afford more, for less, within a large catalogue. This indicates that sustainability is a strong topic of interest and commitment for people who are active on our platform.
In the UK, we’re looking forward to ongoing growth and strengthening our member communities, connecting more buyers and sellers to second-hand fashion. We continue to invest into our technology to help enhance our customers’ experience, for example, recently, our UK members migrated to an upgraded version of the app. Ultimately, our goal is to make buying and selling second-hand fashion a seamless process, accessible to as many people as possible.
What sets us apart is that at Vinted – we don’t charge fees for listing and selling, meaning sellers always get to keep 100% of what they make.
Our platform is developed to be as inclusive as possible. Everyone is welcome and there are no restrictions on what clothes are sold or how they are priced.
We are focusing on fashion categories first and foremost, and our tech expertise is there to serve our purpose and mission to facilitate access to second-hand fashion and a more sustainable use of clothes.
We are on the mission to accelerate the transition from take- make- waste economy towards circular fashion economy. We believe that this circularity is a key to sustainability and a large part of the solution to our environmental crisis.
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Our business model is based on circular fashion. Circularity is all about cutting out the waste and pollution; circularity of eCommerce means that the clothes that are already produced can be kept in circulation longer by moving from one customer to another, making sure customers have access to clothes they want and need but do not add to more new production. We offer a more environmentally friendly way to consume and help everyone make a little extra off of the things they no longer need.
To make this change and make it ‘stick’, it is critical that sustainable fashion is not an ethical choice only anymore, but becomes the smarter choice – more convenient, more affordable and distributing economic value for all those involved.